Startup Mentoring in Malta

Forbes: 92% of small business owners agree that mentors have a direct impact on the growth and survival of their startup.

If you are on this page, you are most likely thinking of embarking in a new business venture or have already made the leap. Congrats! A new business venture and working on a new project or a new idea can have a really motivating effect. On the other hand, starting up a new business can also be quite challenging and sometimes you will need to bounce off ideas, brainstorm concepts, learn from someone else’s experience, and even at times have someone that gives you the cold hard truths that you need to hear to make the right decisions. This is where a Startup mentor comes in.

Building and growing a startup is not a simple matter. It takes a lot of drive, passion, persistence, a great idea (or great product or service). Even with all these things aligned, there are always going to be certain things that need an outside perspective. Working with a startup mentor can be of great help when the time comes to make a tough decision. Through their experience and their ‘outside-in’ view of your business a mentor can guide you to avoid certain risks, point out things that may be overlooking and suggest ways how certain risks can be avoided or lessened. Mentors will also have their own share of failures in various business ventures, therefore you can learn off their experience to avoid making the same mistakes.

Working with a startup mentor also grants you access to their network. Most mentors would have amassed a large network of contacts that can be of exceptional value to an entrepreneur. The right introduction at the right time can prove to be a huge asset. They can connect you with another business they may have had experience with, other startups that can perhaps assist each other, startup accelerators or even other mentors that may have networked with and that may be more suitable to tackle other areas of the business that you may be struggling with.

My recommendation of things that you need to look for in a great mentor:

  • General (preferably in-depth) knowledge of the industry that your new business will engage in
  • Entrepreneurial or c-level experience
  • Well connected, with a wide network of contacts
  • A creative problem solver
  • Trustworthiness and chemistry for an amazing working relationship